The pound continues to chop back and forth against the Swiss franc as we’re hanging around the 50-day EMA. The pound against the franc is a pair I like a lot actually when it comes to trading the risk appetite of markets.
I do believe that given enough time traders will continue to look at this through the prism of whether or not we are seeing more risk appetite out there or we are not. And in this environment, I would say it’s kind of neutral, so it does make sense that we chop back and forth right around the 50-day EMA. If you’re a short-term trader, this could be a nice back and forth kind of range trade on short-term charts.
